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Biopharmaceutical company Gilead Sciences Inc (NASDAQ: GILD ) reported an increase in net income for the fourth quarter of 2022 when revenue rose 2%.
Revenue increased by 2% annually to $7.4 billion in the last three months of fiscal 2022. A 58% increase in international product sales more than offset the weakness in the European market. Meanwhile, US sales remained unchanged.
Net income, on a reported basis, more than doubled year over year to $1.6 billion or $1.30 per share in the three-month period. Adjusted earnings rose to $1.67 per share.
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